The Multi Commodity Exchange (MCX) has announced the launch of Crude Oil mini futures contracts with effect from Friday, March 3rd, 2023 onwards. You can check the announcement from the exchange here.
Crude Oil Mini Futures contracts will be available for trading as below:
| Contract Launch date |
Contract Expiry Date |
Contract Expiry Month |
| March 3, 2023 |
April 19, 2023 |
April 2023 |
| March 3, 2023 |
May 19, 2023 |
May 2023 |
| March 3, 2023 |
June 16, 2023 |
June 2023 |
| March 3, 2023 |
July 19, 2023 |
July 2023 |
| March 3, 2023 |
August 21, 2023 |
August 2023 |
Contract Specifications
| Particulars |
Details |
| Symbol |
CRUDEOILM |
| Description |
CRUDEOILMMMMYY |
| Contract Listing |
Contracts are available as per the Contract Launch Calendar. |
| Contract Start Day |
As per the Contract Launch Calendar |
| Last Trading Day |
As per the Contract Launch Calendar |
| Trading Period |
Mondays through Fridays |
| Trading Session |
Monday to Friday: 9.00 a.m. to 11.30/ 11.55 p.m.* * based on US daylight saving time period |
| Trading Unit |
10 barrels |
| Quotation/Base Value |
Rs. Per barrel |
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| Maximum Order Size |
10,000 barrels |
| Tick Size (Minimum Price Movement) |
Re. 1 |
| Daily Price Limits |
The exchange has implemented a narrower slab of 4%. Whenever the narrower slab is breached, the relaxation will be allowed up to 6% without any cooling off period in the trade. In case the daily price limit of 6% is also breached, then after a cooling off period of 15 minutes, the daily price limit will be relaxed up to 9%. |
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In case price movement in international markets is more than the maximum daily price limit (currently 9%), the same may be further relaxed in steps of 3%. |
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| Initial Margin |
Minimum 10% or based on SPAN whichever is higher. |
| Extreme Loss Margin |
Minimum 1 % |
| Additional and/ or Special Margin |
In case of additional volatility, an additional margin (on both buy & sell side) and/ or special margin (on both buy & sell side) and/ or special margin (on either buy or sell side) at such percentage, as deemed fit, will be imposed in respect of all outstanding positions. |
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| Maximum Allowable Open Position |
For individuals: 4,80,000 Barrels or 5% of the market wide open position, whichever is higher for all Crude oil contracts combined together. For a member collectively for all clients: 48,00,000 MT or 20% of the market wide open position, whichever is higher for all Crude oil contracts combined together. |
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Contract Launch Calendar for Crude Oil Mini (on a continuous basis)
| Contract Month |
Contract Launch Date |
Contract Expiry Date |
| Apr-23 |
3rd March 2023 |
19th April 2023 |
| May-23 |
3rd March 2023 |
19th May 2023 |
| Jun-23 |
3rd March 2023 |
June 16, 2023 |
| July-23 |
3rd March 2023 |
July 19, 2023 |
| Aug-23 |
3rd March 2023 |
21st August 2023 |
| Sept-23 |
21st March 2023 |
19th September 2023 |
| Oct-23 |
20th April 2023 |
19th October 2023 |
| Nov-23 |
22nd May 2023 |
17th November 2023 |
| Dec-23 |
19th June 2023 |
18th December 2023 |
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